The stockholders' equity of TVX Company at the beginning of the day on February 5 follows. Common stock-$15 par value, 150, 000 shares authorized, 57,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings 855, 000 427, 000 554, 000 $1,836, 000 Total stockholders' equity On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $31 per share on February 5 before the stock dividend. Exercise 11-8 Part 1 1. Prepare entries to record both the dividend declaration and its distribution.
The stockholders' equity of TVX Company at the beginning of the day on February 5 follows. Common stock-$15 par value, 150, 000 shares authorized, 57,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings 855, 000 427, 000 554, 000 $1,836, 000 Total stockholders' equity On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $31 per share on February 5 before the stock dividend. Exercise 11-8 Part 1 1. Prepare entries to record both the dividend declaration and its distribution.
Chapter5: Operating Activities: Purchases And Cash Payments
Section: Chapter Questions
Problem 2.1C
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![A [Fall 2021] ACC 211 - D01: Princ x
9 Question 5 - Chapter 11 Homew X
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Exercise 11-8 Small stock dividends LO P2
[The following information applies to the questions displayed below.]
The stockholders' equity of TVX Company at the beginning of the day on February 5 follows.
Common stock-$15 par value, 150, 000 shares
authorized, 57,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
$ 855, 000
427, 000
554, 000
Total stockholders' equity
$1, 836, 000
On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of
record. The stock's market value is $31 per share on February 5 before the stock dividend.
Exercise 11-8 Part 1
1. Prepare entries to record both the dividend declaration and its distribution.
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Transcribed Image Text:A [Fall 2021] ACC 211 - D01: Princ x
9 Question 5 - Chapter 11 Homew X
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Required information
Exercise 11-8 Small stock dividends LO P2
[The following information applies to the questions displayed below.]
The stockholders' equity of TVX Company at the beginning of the day on February 5 follows.
Common stock-$15 par value, 150, 000 shares
authorized, 57,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
$ 855, 000
427, 000
554, 000
Total stockholders' equity
$1, 836, 000
On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of
record. The stock's market value is $31 per share on February 5 before the stock dividend.
Exercise 11-8 Part 1
1. Prepare entries to record both the dividend declaration and its distribution.
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5 6
of 13
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